I am the self proclaimed side hustle queen and to begin the “Side Hustle Series” I am sharing 5 reasons why everyone needs a side hustle. I’ve been working since I was 15, but having a side hustle has become a way of life. Trying to tackle college debt and build savings are just some of the reasons why I side hustle. I truly believe everyone should have a side hustle. It can be all or one of the reasons I’ll share but each are uniquely important reasons everyone should be hustling on the side.
Side hustles are typically super flexible and a way to earn extra money without infringing upon your career or 9 to 5 job. Some of the best side hustles are passion based, and allow you to work when you want or even better where you want. When choosing a side hustle, flexibility is of the utmost priority to me. I choose side hustles that work well with a teacher’s schedule. Teachers have responsibilities that far surpass the school day, and any side hustle I do cannot interfere with me giving my students my absolute best. My career is already incredibly demanding so having a side hustle with flexible hours allows me to devote myself to my students, and still find time to generate the extra income to get me to my financial goals.
Multiple Streams of Income
Having multiple streams of income used to be a suggestion, but for many it has become a necessity. There’s a saying that the richest people in the world have 7 income streams. I’m sure many of them started off as side hustles that probably turned into major income streams. Probably some even being passive, and nothing is better than passive income. Side hustles are a great way to add extra streams of income. Multiple streams of income is how you build wealth. My goal is to make my paycheck from teaching my play money. When times get hard, I feel a sense of relief that I have more than one stream coming in. At the start of quarantine when everything was uncertain, I thought about the possibility of my teaching salary being reduced. It wasn’t suggested but with so much uncertainty I had to consider the possibility. Immediately, I thought about increasing my hours of side hustling in order to supplement in case that happened, which brings me to my next reason.
Having a side hustle provided a sense of financial security. Should you lose your main source of income, you have your side hustles and other streams to fall back on. A flexible side hustle works well in this case because you can add more hours wherever and whenever you want. I started doing a full ESL schedule at the start of quarantine, in addition to teaching my second graders and fitness routine. Being able to work home full time inspired me to work towards the fourth reason I think everyone needs a side hustle.
Pay off Debt Faster
Paying off debt is the main reason I started side hustling. When starting a debt free journey it is suggested to decrease your spending and increase your income. I am working on doing both. Truth moment I have mastered increase but not decrease. I’ll share more about that once I’m brave enough to document my debt free journey here. Side hustling makes paying off debt much faster. I have been able to pay down multiple credit cards just from side hustling alone. Many people side hustle just to pay their debt down. My goal is to use my side hustles to pay all of my debt, even my student loans. I’ll be getting serious about my debt free journey in this second half of 2020, and sharing it here. The last great reason everyone should side hustle is because you are able to grow your network.
Networking and Growth
Side hustles provide unique opportunities to network with others. You never know who you will meet and what they may offer, or that you may offer to them. One of my side hustles is ride sharing and I have truly met people I’ll never forget from a quick 20 minute ride in the back of my Ford Fusion. Teaching ESL has opened a wide network. Although teaching is my main thang anyway, this community has taught me some great strategies I can apply to my regular classroom. While making deliveries, I have even been able to talk with others interested in Herbalife products, or a tutor meaning more business for me. It’s a win, win, win! I make money, meet new people, and give myself a chance to make even more money. Wins for everyone!
Now, it is not required to be a side hustle queen like me with multiple hustles all around, but I definitely recommend at least one. One that is flexible and works for your schedule. A hustle that is fun and does not add additional stress to your life. Side hustling has many benefits. More money of course, but paying off debts, financial security and meeting new people. Again all wins. There are so many hustles out there for a vast majority of interests or needs. Find you a hustle you can get jiggy with and make that money!